Via eFX comes comments from Barclays on the yen
. Uncertainty regarding the prospects of global growth, not just the trajectory of China and other EMs, has led to increased cross-asset volatility (Figure 1) as conviction is low and investors seek to cut risk exposures and flee to traditional safe havens. Amid increased market turbulence, rates markets have pushed back expectations for Fed hikes and are now pricing additional easing by global central banks in the coming quarters.